The LOAN Procedure

Printed Output

The output from PROC LOAN consists of the loan summary table, loan amortization schedule, and loan comparison report.

Loan Summary Table

The loan summary table shows the total payment and interest, the initial nominal annual and effective interest rates, payment and compounding intervals, the length of the loan in the time units specified, the start and end dates if specified, a list of nominal and effective interest rates, and periodic payments throughout the life of the loan.

A list of balloon payments for balloon payment loans and a list of prepayments if specified are printed with their respective periods or dates.

The loan summary table is printed for each loan by default. The NOSUMMARYPRINT option specified in the PROC LOAN statement suppresses the printing of the loan summary table for all loans. The NOSUMMARYPRINT option can be specified in individual loan statements to selectively suppress the printing of the loan summary table.

Loan Repayment Schedule

The amortization schedule contains for each payment period: the year and period within the year (or date, if you specified the START= option); principal balance at the beginning of the period; total payment, interest payment and principal payment for the period; and the principal balance at the end of the period. If you specified the SCHEDULE=YEARLY option, the amortization contains a summary for each year instead of for each payment period.

The amortization schedule is not printed by default. The SCHEDULE option in the PROC LOAN statement requests the printing of amortization tables for all loans. You can specify the SCHEDULE option in individual loan statements to selectively request the printing of the amortization schedule.

Loan Comparison Report

The loan comparison report is processed for each report period and contains the results of economic analysis of the loans. The quantities reported can include the outstanding principal balance, after-tax or before-tax present worth of cost and true interest rate, periodic payment, and the interest paid through the report period for each loan. The best alternative is identified if the asset value (down payment plus loan amount) is the same for each alternative.

The loan comparison report is printed by default. The NOCOMPRINT option specified in the COMPARE statement suppresses the printing of the loan comparison report.